Have you ever wondered whether owning property in San Diego is a good or profitable idea? Maybe you already own property and have been considering selling it with fears that it will no longer bring in a steady income. However, recent rental market trends may have you changing your mind as there is a rising popularity of owning rental properties versus homeownership.
When you choose to partner with Realevate Specialists to help manage your San Diego property you are working with a team that is dedicated to seeing your property succeed. Learn more about why you should capitalize on the rising popularity of rental properties and start seeing the benefits of investing in real estate today.
In regards to the housing market booms for homeownership, the buyers’ market is usually narrowed to some locations all across the county. This means there will continually be cities and towns with property rates that are very high for the regular home buyer. This makes it complicated to capitalize on a trend that may not be existent in your area.
However, the increasing popularity of rental properties has been a national trend, which means your Merritt Island property can really profit from this news. A study recently was done that looks at the change over time in renter v. homeowner rates between 2006-2016. Persons who rented a home or unit increased by more than 23 million during this period as found by the US Census. Since the U.S. Population growth was 23.7 million people, this rate shows that renting is satisfying the needs of many.
This study was done by RentCafe, also shows that the growth of homeowners was fewer than 700,000 implying that many want to rent a home rather than own one for a variety of reasons. While trends change every now and then, Real Property Management Brevard is here to support you survive each change in popularity, guaranteeing that as time goes by you can expect to have a steady income whatever the market may be.
Housing Market is Spreading Out
While most of these trends are noticed in cities within the U.S., this growing popularity of rental properties is welcome news for investment homeowners whose rental properties are outside of the city. When there is a rise in demand for rental properties, it is not uncommon for rental rates to rise alongside this within cities and larger towns. Owning a property in an area like this is beneficial for you as you can raise your rent as well.
However, not all renters can make provisions for the price fluctuations of the market. This leads them to look for rental property outside of the city and in smaller towns and suburbs. As populations rates swell, so does the demand for inexpensive housing, and renting can help lift this burden off from individuals and families alike. When they do not have to fund a down payment and mortgage it is much easier to get a profitable rate from your rental property that meets the needs of both you and your residents.
Let Realevate Specialists help you to capitalize on this rising trend along with the professional management of your property so you can sit back, relax and enjoy the extra income. For more information, contact us online or call our Mission Valley office at 858-997-2100 or our Temecula office at 951-461-0100.
We are pledged to the letter and spirit of U.S. policy for the achievement of equal housing opportunity throughout the Nation. See Equal Housing Opportunity Statement for more information.